Top Breakout Stocks to Watch: Sumeet Bagadia Recommends 5 Shares to Buy Today

The Indian stock market took a hit last week due to rising tensions from the Israel-Iran conflict. Friday marked the fifth consecutive day of losses, with the Nifty 50 falling 235 points to close at 25,014, and the Sensex dropping 808 points to 81,688. The Nifty Bank Index also slipped by 288 points, closing at 51,556. Trading volumes were lower, and the Mid-cap index fell more than the Nifty, as the advance-decline ratio plunged to 0.43:1.

Sumeet Bagadia’s Stock Picks Today

Sumeet Bagadia, Executive Director of Choice Broking, highlighted that the market has turned extremely bearish after Nifty 50’s steepest drop in 2024. According to him, Nifty 50 has strong support at the 24,300 to 24,250 range, while Nifty Bank’s support lies between 49,800 and 49,700. Bagadia recommends a stock-specific strategy, focusing on stocks showing positive technical signs.

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Here are five breakout stocks Bagadia suggests buying today:

1. Sree Rayalaseema Hi-Strength Hypo:
   Buy at ₹757, target ₹807, stop loss ₹730.
2. Quick Heal Technologies:
   Buy at ₹685, target ₹725, stop loss ₹660.
3. VIP Industries:
   Buy at ₹564.15, target ₹595, stop loss ₹544.
4. R Systems International:
   Buy at ₹506.15, target ₹533, stop loss ₹487.
5. CARE Ratings:
   Buy at ₹1096.25, target ₹1150, stop loss ₹1060.

Bagadia’s advice is to focus on these potential breakout stocks for better trading opportunities despite the broader market downturn.